Plasma Founder Claims No Team Member Sold Any XPL

Plasma Founder Claims No Team Member Sold Any XPL

Plasma founder Paul Faecks addressed the controversial launch of the project’s native token XPL on X.  The XPL token dropped around 46% from its all-time high of $1.70 to roughly $0.92 just days after launching. The decline was fueled by speculation that insiders had sold large volumes after the token launched, and rumours that linked Plasma to the controversial Blast project. “No team members have sold any XPL. All investor and team XPL is lock…

Plasma CEO Denies XPL Token Sale Rumors

Plasma CEO Paul Faecks has clarified that no team members have sold their XPL allocations. His statement came in response to speculation following the token’s recent launch. Faecks Addresses XPL Concerns The controversy began when blockchain sleuths flagged large XPL transactions from team wallets shortly after its debut, with some suggesting that these movements were linked to insiders cashing out early. Critics also pointed to the presence of …

Wintermute, Blast, and rug pull rumors hit Plasma’s XPL launch

Investors are blaming market-maker Wintermute, Ethereum layer 2 Blast, and early team member unlocks for the oddly disappointing launch of Plasma’s XPL token. Despite billions of dollars in trading volume, XPL is already 40% below its debut high from last week, and Plasma co-founder Paul Punt is trying to debunk claims of an early unlock and other conflicts of interest. “We’ve seen a number of rumors circulating since the launch of XPL,” he wrot…

Plasma (XPL) sets 3-year token lock, addresses concerns on team ...

Plasma Founder Denies Insider Selling Accusations | The New York Ledger

Today in crypto, Plasma creator Paul Faecks rejected expert selling allegations after the XPL token plunged over 50%, Swedish members of parliament have actually proposed that the nation check out developing a Bitcoin reserve, and United States legislators are weighing modifications to crypto tax guidelines. Plasma creator rejects expert selling after XPL token plunges over 50% Plasma creator Paul Faecks rejected allegations of expert selling af…